Employees in two Canadian factories make Lush Handmade Cosmetics' bath bombs and other products by hand, and the work has grown along with the UK-based brand's store base in the US and Canada. The chain will shift away from new store openings and focus on expanding existing locations, a move that's not expected to dampen demand for the preservative-free products.
Claire's has been teens' preferred mall shop for accessories for almost 60 years, but the chain has seen sales slip in recent years amid slowing mall traffic and growing competition from fast-fashion retailers. "Claire's -- which is about impulse-driven purchases -- has become a victim of changing mall traffic trends," Fitch Ratings Retail Analyst David Silverman said.
About 53% of millennials say happiness levels rise along with incomes, compared to 38% of the overall population, and 51% of millennials express confidence about their future finances, according to a Mintel survey.
German discount grocer Lidl will open a $100 million regional headquarters and distribution facility in Cartersville, Ga., late next year, marking its fourth such center in the US, the company said Monday. The retailer has also set a July opening date for its next four US stores in Virginia and North Carolina, following its first wave of US store openings earlier this month.
Bruce Besanko has resigned as chief financial officer at grocery retailer and wholesaler SUPERVALU, effective July 5, the company said. Besanko, who is the third high-profile grocery executive to resign in recent days, also serves as the chief operating officer of SUPERVALU.
UPS today said it plans to generate 25% of its electricity from renewables, cut emissions by 12% from its global ground operations and increase by 25% the total number of vehicles running on alternative fuels. In its latest corporate sustainability report, the company noted other steps, such as investments in software and updated aircraft and the possibility of using a person's exact GPS location, rather than a street address, on the last mile of delivery.
Amazon, the largest e-commerce retailer in Canada, outsells its competitors by a wide margin, so its recent purchase of Whole Foods is not a bigger concern than its domination of online shopping. "The more pressing threat for Canadian retailers is Amazon's continued foray into general merchandise categories and an increase in the number of Prime-eligible items," retail analyst Peter Sklar said.
Retail inventory shrink hit $48.9 billion last year, up from $45.2 billion in 2015, and losses from theft and other forms of shrink grew to 1.44% of total sales, according to an annual report from NRF and the University of Florida. Retail spending on loss prevention was flat or down during the same period, the report revealed.
Warren Buffett's firm Berkshire Hathaway has invested in Store Capital Corp., betting that the commercial landlord's mix of service and entertainment tenants will keep its business strong even as traditional retailers face challenges brought on by e-commerce. Store's portfolio also contains tenants seen to be resistant to the rise in e-commerce, including furniture stores and hobby shops.
Updates to the Chrome browser being done on the Android O platform will allow for picture-in-picture support. The new version of Android is expected to be released with the new Pixel phones, which should be announced in the third quarter.
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